The Q’s finally rallied today off the lows of 64.55 into lunch at 12:30 and triggered two 15 minute sells the first one failing, the 2nd one grinding it out lower. At 3:00 pm we had a shakeout to the upside then the market came crashing downward to finish the day at 64.90 well of the high of the day set at the open of 65.54. For tomorrow I would be looking for the first 5 minute sell set up at the 65.00 level if we open and rally upward. If we gap down and or run down to the 64.50 area, I would be looking for a long at 10:00 or 10:30 reversal time with a target up to the 65.00 area where I would be looking to fade lunch. If for some strange reason we gap to the 65.40 area I would be looking to fade a topping tail or you can wait for the next lower high (5 minute sell setup).
Longs:
ALL – Daily Break out
AMGN – Break out watch
ANR – Daily Break out
BAC – Daily Break out
C – Gap continuation
COST – Daily Break out
FSLR – Daily 123 pattern
HD – Daily Buy Watch
Shorts:
TOL – Gap n Crap Continuation
WAG – Climatic watch
qqq 12062012